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A newspaper article from 1839, letter from Qui PENSE, concerning the Bank of Lapeer


Mr. Coleman—

In my last communication to you I stated, that the ‘Lapeer bank Junto’ were about to establish a press at Lapeer county seat, its publication to be under the management and control of McKeen, Harts & Co. and that they were about to assume a new shape and title under which they intend to appear before the public, clad in the mantle of Modern Democracy; hoping thereby to conceal from the public eye the cloven foot, as well as to divert the attention of the people from the real object of their design.

The Lapeer Typographical Association, have had a meeting. It was held at their old haunt, at the same place and upon the very same ground, where two years before the Lapeer banking association was brought into being, under the protecting care and guidance of its God Father, John Norvell; and it is presumed from the recent visit of the late Cashier of the Bank of Lapeer to Detroit, and his conference with Norvell, Bagg & co, of the Parent Junto, that the same honorable little gentleman will stand sponsor for this newly organized Loco-foco offspring, named, the “Lapeer Typographical Association,” made-up of the shreds and patches of rank loco focoism, together with the soiled remnants of the bank of Lapeer. I am told, but as to the truth of the statement, I should not like to vouch, in these hard times for money, that McKeen, Harts & co., have succeeded in obtaining, already, some fifteen or sixteen hundred dollars by subscription to aid the Association in gulling the people of Lapeer county, into the support of their party measure, and in carrying out the projects and political schemes of the leading loco foco sub-treasuryites.

The late cashier of the bank of Lapeer, has had his part, already assigned him. He is to play second fiddle to State printer Bagg, in the crusade of the loco focos this fall, against a well established credit system; against a sound uniform, and practicable currency ; against all banks or banking, except the bank of Lapeer, Hart’s pet, and a few other loco foco wild cat institutions, got up for the benefit of the party ; and to be accompanied by the whole loco foco band in the grand overture, against the peace, good order, prosperity and, happiness of the people, not identified with loco focoism, not only of this state, but that of our common country.

How far McKeen, Harts & co will be able, to again palm themselves off, under their new garb, upon the people of this county, as “current coin,” remains to be seen ; but reasoning, however, from the old, but trite maxim, that a “burnt child dreads the fire,” it is presumable, that the people of this county being made acquainted with the facts, and the true object and design of the old Lapeer bank Junto, in thus temporally publishing a news paper at this time, they will be sufficiently wary of them, not to be again deceived by fair words and solemn promises, into the receiving of the spurious issues of their frail concern.

If the people will pause and reflect for one moment only, they will at once perceive the true object the Lapeer Bank Junto have, in establishing a press at a time, when there is so general a depression of business, and from the extraordinary scarcity of money which prevails throughout this state, that a man of family, can hardly obtain money enough to buy pins, to keep his wife upon the sunny side of good nature.

It is not so much the object of McKeen, Harts & co. in establishing a press, to advocate the principles and measures which would best subserve the interest of their own party, even, but to pursue a more selfish and sordid course ; to have the means at hand to justify themselves from censure, growing out of their late nefarious transactions, and by their sophistry and peculiar gift at prevarication, attempt to do away, to throw off that odium, which in public opinion now so justly attaches itself to their name, and which, whenever mentioned, must remind the poor man of the thousands they have obtained and hoarded up out of the hard earnings of the poor and laboring class of community, by deceit and fraud.

No honest democrat, nor in fact any honest man of either of the two great political parties of the present day, knowing the real design of McKeen, Harts & co., would contribute one farthing to the support of the publication about to be made by the Lapeer Typographical Association, which is no more nor less, than the old material of the Lapeer Banking Association, under the name and style of, the Bank of Lapeer, newly vamped over.

The honest intelligent class of community, must look upon it, as being the very height of impudence in McKeen, Harts & Co. in soliciting aid from the people of Lapeer county in support of their party paper, after having so grossly abused, deceived and swindled them our of a portion of their substance, and having sullied the fair name of the county abroad, by misrepresentations, by getting up a banking institution as the leaders of the then dominant party of the county, evidently for selfish and sinister motives, drawing within the vortex of their defrauding schemes, the innocent and unsuspecting.

Their motive was solely of a pecuniary consideration, based on a knavish desire to obtain money, and knowing as they did, that the leaders of the parent junto, were supplying themselves by the same means, with the ready; they felt confident that the party would sustain them, and I leave it for Norvell, Crary, Bagg & Co., to say, from the nature of the accommodation, they have received out of the half million, of the people’s money on deposit in the Michigan State Bank, if their hopes are to be realized and the confederacy to remain unbroken. QUI PENSE.

Jeffersonian, and Oakland, Lapeer, & Shiawassee Advertiser, 20 Sep 1839, p 2

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